Beginning next year, Sanrio will collaborate with the NFT startup Recur to provide digital collectibles starring the iconic mascot.
Fans of the beloved figure (who, according to common perception, is not a cat) will be able to buy and trade digital collectibles of Hello Kitty starting next year, thanks to a cooperation launched on Thursday between Sanrio and Recur, a leading NFT startup.
“To explore this new and innovative business is for us a big challenge,” Silvia Figini, the COO for Sanrio’s EMEA, India and Oceania regions, said. “For Sanrio, stepping into the NFT space adds a new way of being part of contemporary culture and provides our fans a new way to enjoy our brand.”
Users will be able to acquire the Hello Kitty NFTs using their credit or debit cards in US dollars, like with other collectibles sold on the Recur platform, or in cryptocurrency, the latter of which is more common for collectibles sold on the blockchain.
“We understand that we’re welcoming millions and millions of new fans across all the IP that we have into this ecosystem, into crypto, and we can make sure they can enter it in a way that they understand,” Zach Bruch, co-founder and CEO of Recur, told The Hollywood Reporter.
While it’s unclear how many artefacts will be made as a result of the Sanrio collaboration, Recur co-founder and co-CEO Trevor George stated that it will be an “entire Hello Kitty world of many treasures,” however other Sanrio characters will not be participating at this time.
The Hello Kitty NFTs will join other well-known characters in Recur’s NFT collection. ViacomCBS and Recur announced a partnership last month to transform IP, such as SpongeBob SquarePants and Spock from Star Trek, into NFTs based on the company’s content library across CBS, Paramount Pictures, Nickelodeon, Comedy Central, MTV, Showtime, and BET.
Lionsgate has also reached an agreement with the NFT platform Autograph to mint and sell collectibles based on content from films such as John Wick and Mad Men. But, in the midst of Hollywood’s NFT cash grab, litigation has unavoidably ensued: Miramax sued Quentin Tarantino this week over his plans to release NFTs based on Pulp Fiction, citing the fact that the film studio is in the process of forming its own NFT partnerships based on the Miramax collection. (According to Tarantino’s attorney, the director’s contract grants him “the right to sell NFTs of his hand-written script for Pulp Fiction.”)